Market Talk – Tuesday, Dec. 22

US GDP grew at an annualized rate of 33.4% last quarter, according to the Commerce Department. The revised figure represents a stronger recovery from the 33.1% increase reported in November. Although the figures look promising, this comes on the tail-end of the worst quarterly contraction on record of -31.4% in Q2. As cases and coronavirus restrictions rise, the prospect of a strong Q4 looks less optimistic.

US Market Closings:

  • Dow declined 200.94 points or -0.67% to 30,015.51
  • S&P 500 declined 7.66 points or -0.21% to 3,687.26
  • Nasdaq advanced 65.4 points or 0.51% to 12,807.92
  • Russell 2000 advanced 19.55 points or 0.99% to 1,989.88

Canada Market Closings:

  • TSX Composite advanced 51.57 points or 0.29% to 17,552.46
  • TSX 60 advanced 3.96 points or 0.38% to 1,046.36

Brazil Market Closing:

  • Bovespa advanced 813.61 points or 0.7% to 116,636.18

ENERGY:

The oil markets had a mixed day today:

  • Crude Oil decreased 0.45 USD/BBL or -0.94% to 47.2900
  • Brent decreased 0.58 USD/BBL or -1.14% to 50.3300
  • Natural gas increased 0.084 USD/MMBtu or 3.11% to 2.7890
  • Gasoline decreased 0.0168 USD/GAL or -1.23% to 1.3436
  • Heating oil decreased 0.012 USD/GAL or -0.81% to 1.4654

The above data was collected around 11:52 EST on Tuesday

  • Top commodity gainers: Natural Gas (3.11%), Lumber (1.33%), Wheat (0.82%) and Orange Juice (0.93%)
  • Top commodity losers: Soda Ash (-2.86%), Rubber (-15.75%), Bitumen (-2.83%), and Silver (-2.29%)

The above data was collected around 11:59 EST on Tuesday.

BONDS:

Japan 0.01%(+0bp), US 2’s 0.12%(-0.006%), US 10’s 0.92%(-2bps); US 30’s 1.66%(-0.026%), Bunds -0.59% (-1bp), France -0.35% (-1bp), Italy 0.53% (-1bp), Turkey 12.55% (-4bp), Greece 0.67% (+0bp), Portugal 0.06% (+2bp); Spain 0.06% (+1bp) and UK Gilts 0.19% (-2bp).

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Disclosure: None.

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